Question

The euro increased business between European countries and created a more competitive environment in Europe.

True

False

Commercial banks in aggregate have more assets than of savings institutions.

True

False

Answer 1

Solution:-

(1)

The invent of euro as one common currency for European countries was a unique financial experiment. By unifying the currencies of many European countries, the Europen Union increased the ease of doing business between these countries while doing away with currency wars, reducing exchange rate uncertainty and creating a more competitive environment.

One common currency enforced comparability of wages and prices across the nations, which increased competition, reduced prices for consumers and pushed the overall business higher

Therefore, the correct option is 'True'.